M038;M Q2 net up 146

8220;The revenues for the current quarter include an exceptional profit of Rs 153.50 crore Rs 124.40 crore post-tax accrued as a result of the initial public offering IPO of subsidiary company Tech Mahindra,8221; M038;M executive director finance Bharat Doshi said.

On a standalone basis, the company posted a 145.9 per cent increase in net profit for the reporting quarter at Rs 386.5 crore compared to Rs 157.2 crore in the corresponding quarter previous fiscal while revenues during the quarter increased 30.6 per cent to Rs 2890.1 crore.

Meanwhile, the company is confident that it will be able to buy Romanian tractor company Tractorul.

8220;The Romanian government is keen to privatise the enterprise and know that we are serious about buying it. We are confident that we will be able to finalise it between them and us,8221; M038;M Farm Equipment Sector President Anjani Kumar Chowdhari said.